3D metal-printing startup Seurat Technologies has successfully secured a substantial $99 million in its Series C funding round, with leading contributions from NVentures, the venture capital arm of Nvidia, and Capricorn’s Technology Impact Fund. While the company has not disclosed its exact valuation, reports from Reuters indicate that this funding places Seurat’s value at approximately $350 million.
Seurat Technologies is making waves with its innovative Area Printing technology, which operates on green energy and has the potential to revolutionize the manufacturing process. The technology not only eliminates greenhouse gas emissions associated with part production but also has the potential to resolve supply chain challenges, positioning it as a sustainability-driven game-changer.
The company has ambitious goals, with plans to directly mitigate up to 100 million tons of CO₂ emissions by the year 2030, aligning its mission with global sustainability efforts.
Founded in 2015, Seurat Technologies has made significant strides in securing funding, amassing nearly $180 million, according to data from Crunchbase. Notably, the Series C round drew support from new investors, including Honda Motor and Cubit Capital. Furthermore, it retained the backing of previous investors who participated in this latest round, such as True Ventures, SIP Global Partners, Porsche Automobil Holding, Denso Global, General Motors Ventures, Maniv Mobility, and Xerox Venture Capital.
Seurat’s CEO, James DeMuth, hinted at the possibility of taking the company public in the future. He stated, “I expect that (going public) is in our cards… 12-18 months is the earliest we would consider that… potentially more like 24 or 36,” during an interview with Reuters.
This Series C round for Seurat Technologies stands out as the most significant funding achievement among 3D printing startups this year, based on Crunchbase data. While funding in this space has seen a decline in 2022, the substantial investment in Seurat signifies a strong belief in its groundbreaking technology.
Nvidia and its venture arm have been active investors in the tech world this year, particularly in AI-related startups. Some of their noteworthy investments this year include:
A $500 million-plus Series I funding round for Databricks, which valued the startup at $43 billion.
A $350 million Series B investment in Adept AI, resulting in a post-money valuation of at least $1 billion. Adept AI specializes in turning text commands into actionable tasks using generative AI.
A $270 million round for Toronto-based Cohere, a player in the AI platform landscape.
A $230 million Series E round for drone startup Skydio, with a valuation of $2.2 billion.
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Seurat Technologies’ latest funding achievement underscores the increasing interest in sustainable and innovative technologies, driving forward the possibilities in the realm of 3D printing.
